Business, 29.11.2019 07:31, mimi19374

Write short notes (i. e. 3-5 sentences and use relevant examples and graphs to illustrate these concepts) on the following concepts:
(a) total variable cost
(b) production function
(c) binding price ceilings
(d) producers’ surplus
(e) demand schedule
(f) a movement along a demand curve
(g) explicit cost
(h) intellectual property rights
(i) normal profit
(j) relatively inelastic supply
(k) economic profit
(l) accounting profit

Answers: 3

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answered: HannaTheGurls

a. This is all the cost associated with production of an item.

B. This is the relationship between physical input and quantities of output q=f(l, k).

C. This the price of a product below the equilibrium price.

D.difference between marginal feel accepted by producer for a product and how much can be received for selling at market price.

E. This is a table showing different quantity demand at different prices.

F. A movement along a demand curve occurs when a change in demand occurs because of change in price.

G. Direct payment injured while running a business that is wages, rent and materials.

H. These are new invention made by people in art, science, literature.

I. This is when total revenue balances with the total cost of carrying out production in a competitive market.

J. This is when a small change in product price cause large change in quantity of production of item.

K. Difference between revenues accrued from sales and cost of all inputs used with opportunity cost.

L. Difference between total monetary revenue and total monetary cost.

Explanation:the graphs attached gives the thorough explanation of a, b, c, d, e

G. Examples of intellectual property are trademarks, copyright and trademark secret.

L. The a. This is all the cost associated with production of an item.

B.q=f(l, k)

Write short notes (i.e. 3-5 sentences and use relevant examples and graphs to illustrate these conce

answered: Guest

Via: "if you are found to be supplying or dealing drugs, the punishment is likely to be tough. supplying drugs doesn’t just apply to dealers. if police suspect that you intend to share drugs with your friends, this is still considered to be supplying.

being suspected of supplying drugs means you are much more likely to be charged. the amount of drugs found on you, and whether you have a criminal record, will be taken into account when a punishment is being decided.

decisions to prosecute are taken by the public prosecution service. the maximum sentences for intent to supply drugs are:

- up to life in prison or an unlimited fine (or both) for a class a drug- up to 14 years in prison or an unlimited fine (or both) for a class b or class c drug."sorry if this was a school question, you didnt supply options so i assumed it was a personal question, which if it is, reconsider selling or having possesion of any drugs at all. i wish you the best!

answered: Guest

Answerprice ceiling;

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Write short notes (i. e. 3-5 sentences and use relevant examples and graphs to illustrate these conc...